A Malayasian business group today refused to rule itself out of the running for the takeover of Newcastle United.

Speculation continues to grow over the future of the club after Sir John Hall confirmed on Monday he had been approached for his 28.5% stake. Share prices rose a further penny overnight pushing the value of the club to £76.5m.

A Malaysian consortium has now emerged as the main contenders to buy the club, with sources their saying major companies are keen to invest.

The Genting Group is one of the country's leading multinational corporation with more than 36,000 employees worldwide.

Its website boasts the group of five listed companies is worth $9 billion.

A spokesman for the company today refused to comment when asked by the Chronicle if they were involved in any takeover moves for Newcastle United.